Sourced from The Urban Developer
Developed by acclaimed Harvard academics Michael E. Porter and Mark Kramer, the notion of shared value is a management strategy in which companies find business opportunities in social problems.
Inspired by Australia’s commitment to target zero carbon emissions for new buildings by 2030, Frasers Property Australia embraced this concept as a framework for the development of their ambitious retail project, Burwood Brickworks shopping centre.
Burwood Brickworks shopping centre: a living, breathing case study
According to Frasers' development manager Jack Davis, the approach started with a commitment to the triple-bottom line: a quantifiable financial benefit to the company, coupled with measurable impact on the community and the environment.
“This project, envisioned to be the most sustainable shopping centre in the world, will set a new global benchmark in terms of what’s possible in an environmental sense,” he said.
Generally, environmental performance is possible, at a cost, and while Burwood Brickworks has been a catalyst for collaboration with suppliers to provide healthier materials and competitive rates, the bigger challenge is demonstrating the financial and social benefits.